🍇 Chart update for $BB 🍇
Last friday we saw a first attempt to start a new uptrend. The first price target (12$) was reached in less than 24 hours. Subsequently the price got heavily rejected at the resistance level of 12$, forming a bearish candle.
The volume on Friday was much higher than the average. The short sellers tried to push the share price down below the resistance at 12$ in order to avoid a further surge. I assume they are really scared to see the price above that level because chartwise that means a bullish trend reversal.
Next week Blackberry needs to break the resistance around 12$. Beyond 12$ there is almost no resistance besides the ATH. Furthermore the short interest rose during the consolidation since February. The percentage of float shorted is around 9% now (5/14/2021) which provides additional fuel for a squeeze. That means we could see a fast acceleration of the new uptrend.
If the share price of $BB falls below the support at 8.5$ the bullish scenario is not valid anymore.
#1 12$ ✅ 28th May
I'd like to quote the user IncognitoCumShot here: "Anything under $140 is a dip" ❤
This is no financial advice – I am just sharing my opinion. Please do your own due diligence!
Jump To The Original Source